Coinbase Global, Inc. (NASDAQ:COIN) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-one research firms that are currently covering the firm, MarketBeat reports. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $266.10.

COIN has been the topic of a number of analyst reports. The Goldman Sachs Group upped their target price on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Sanford C. Bernstein upgraded shares of Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. JPMorgan Chase & Co. lowered their price objective on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Rosenblatt Securities restated a "buy" rating and set a $260.00 price objective on shares of Coinbase Global in a research report on Monday, May 12th. Finally, Mizuho lowered their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 12,931 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $267.29, for a total value of $3,456,326.99. Following the transaction, the insider now owns 84,280 shares in the company, valued at approximately $22,527,201.20. The trade was a 13.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 15,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $88,646.78. The trade was a 96.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,717 shares of company stock worth $42,980,101 in the last 90 days. 17.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock valued at $3,323,084,000 after buying an additional 875,359 shares during the period. Geode Capital Management LLC increased its position in shares of Coinbase Global by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange's stock valued at $882,822,000 after buying an additional 127,075 shares during the period. ARK Investment Management LLC increased its position in shares of Coinbase Global by 1.1% during the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange's stock valued at $528,592,000 after buying an additional 34,462 shares during the period. Groupama Asset Managment increased its position in shares of Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock valued at $516,690,000 after buying an additional 1,500,000 shares during the period. Finally, Norges Bank purchased a new position in shares of Coinbase Global during the fourth quarter valued at about $536,484,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Performance

Coinbase Global stock opened at $251.27 on Friday. The firm's 50 day simple moving average is $212.70 and its 200 day simple moving average is $243.25. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $63.79 billion, a PE ratio of 26.45 and a beta of 3.61. Coinbase Global has a 1-year low of $142.58 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The business's revenue was up 24.2% on a year-over-year basis. During the same period last year, the company posted $2.53 EPS. As a group, analysts expect that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.

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